The straight line

Category Archives: Credit Unions

Credit Union Update: Mergers

Accounting for mergers under the old accounting rules wasrelatively straightforward. To form the combined entity, the book values of the acquiring and acquired credit unions were added together. Beginning in January 2009, this ā€œpooling of interestsā€ accounting was replaced with the more complex ā€œpurchase accounting.ā€ Under the purchase accounting rules, the acquired credit union and...

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Make Your Mission Statement More Than a Wall Ornament

Many companies spend a lot of timeĀ and money creating mission statements to highlight their products and services and align employees around a common vision. But the fact is that many mission statements fail, becoming nothing more than a wall ornament or a bunch of words tucked into a seldom-read company handbook. For the most part,...

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Credit Unions: What We’ve Seen and What We Expect To See

WHAT WE HAVE SEEN IN 2014 Credit unions have seen their profitability continue to stabilize in 2014 when compared to 2012. Through the first six months of 2014, credit unions have maintained a return on assets of 0.80%. For the first half of 2014 the interest margins continue to tighten as yields on loans have...

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2014 Federal Tax Returns: Something Borrowed, Something New

Tax seasonĀ is finally here. The deadline for calendar-year corporations to file a return (or an extension) is Monday, March 16. The deadline for individuals to file their income tax returns (or an extension) is Wednesday, April 15. As businesses and individuals start gathering financial records to give to their tax professionals, they should know how...

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Disaster Recovery: Ask ‘What If?’

Disasters never happen at a good time.Ā But the timing is irrelevant. What counts is that your business can recover quickly with minimal long-term effects. And that means having a disaster recovery program in place so that your company is well-positioned to respondĀ to — and rebound from — a wide range of calamities. The issues your...

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Violence Strikes the Workplace

Workplace violence isn’t just limited to high-risk jobsĀ such as police officers, taxi drivers and late night convenience store clerks. It happens everywhere, asĀ illustrated by recent high-profile cases.Ā Workplace shootings have occurred at all types of businesses including factories, hospitals, engineering firms, advertising agencies andĀ colleges. Testing Issues Some employers have tried testing toĀ gauge the propensity for violence...

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